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Nikkei notches 21-year closing high; Kobe Steel sinks for 2nd day

Topix at decade-high; gains mainly led by defensive shares

Reuters  |  Tokyo 

Japan's Nikkei share index closed at its highest in 21 years on Wednesday, with gains mainly led by defensive shares, though exporters benefitted from solid global growth. Japan's second biggest steelmaker Kobe Steel Ltd sank 18%, following its 22-percent plunge the previous day, after the company's shock revelation on Sunday that it fabricated data on aluminium and copper products shipped to about 200 companies. The Nikkei rose 0.3% to 20,881.27, its highest close since December 1996. The broader Topix rose 0.1% to 1,696.81, its highest finish in a decade. The ...

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First Published: Wed, October 11 2017. 16:55 IST